Ormat Technologies secures land for Utah geothermal development
Reno, Nevada-based Ormat Technologies Inc., a geothermal and renewable energy company, has secured 1,678 acres in Utah through a Bureau of Land Management (BLM) lease auction. The company said the lease acquisitions will significantly support Ormat’s ongoing operations and development projects in the state to advance renewable energy and meeting Utah’s increasing demand for sustainable energy.
The newly leased acres should allow Ormat to develop two new power plants near its Cove Fort facility that it purchased last year. Exploration work on the first new plant (Cove Fort 2) is expected to begin in 2025 and achieve commercial operation in 2027. The second plant (Cove Fort North) will be developed at a later stage, Ormat said in a release.
“We believe the parcels we targeted and successfully won have a high probability of success that will support our short- and long-term growth plans in the U.S.,” said Doron Blachar, CEO of Ormat. “This marks a significant milestone in our efforts to harness geothermal energy and contribute to a sustainable and low-carbon future. Our team is dedicated to exploring and developing these resources to their fullest potential, providing reliable and eco-friendly energy to the people of Utah.”
With over five decades since its founding, Ormat is engaged in geothermal and recovered energy generation development in the U.S. The company owns, operates, designs, manufactures and sells geothermal and recovered energy generation power plants primarily based on the Ormat Energy Converter, a power generation unit that converts low-, medium- and high-temperature heat into electricity. The company has operations in the U.S., Kenya, Guatemala, Indonesia, Honduras and Guadeloupe.